Regulation

Tarp warrants could spawn a new source of funds for banks

Bank regulators issued 1,143 formal enforcement actions against banks and their holding companies last year, a new record and more than double the 2008 tally.

Money market funds are welcoming the Federal Reserve’s offer to buy an estimated $1 trillion in reverse repos, as the economy continues to rebound and the government looks to reduce the $2 trillion it pumped into the capital markets.

Capital Fulfillment Group has debuted ClickOne, a summary prospectus tool in compliance with Securities and Exchange Commission rules. Using patented technologies, it is designed to offer a simple and cost-effective way for mutual fund companies to equip investors with summary prospectuses via print-on-demand. CFG estimates this will reduce asset management firms' printing costs by 80%.

But the Regions wealth management unit refuses to roll over.

House Counsel: 28% Rate Unlikely

House Financial Services Chairman Barney Frank urged four of the nation's top banks to adopt principal writedowns on second-lien mortgages to allow borrowers to keep their homes.

Congress suspended the required minimum distributions for IRA, 401(k) and other retirement plan investors age 70-1/2 last year, since people’s balances took such a hit the year before and many wanted to remain invested in hopes of a rebound. As the market has, indeed, rebounded nicely, Congress is likely to reinstate the RMDs this year, experts say.

While many workers in this time of economic instability and rampant layoffs are afraid to rock the boat by questioning their employers' decisions, recent lawsuits over high 401(k) fees have empowered some workers to ask their employers to offer lower-cost choices.

Says Banks Will 'Skim the Cream’